Bajaj Auto Results for Jun 2016 are out. The bruised automobile manufacturer reported a 48% growth in Domestic Sales for the first quarter against the Industry growth of 23% with motorcycles registering a growth of 13%.
The company registered a 13.6% growth in Consolidated EPS with Net Profits after tax crossing a 1,000 crore mark at Rs. 1,040 crore despite a fall in QoQ sales by 2%. (detailed numbers here).
Growth was fuelled on account of the iconic Bajaj V which touched sales of 82,000 units in the first quarter while on the commercial vehicles front, the company has managed to maintain a positive QoQ growth.
Bajaj Auto’s International business has been facing headwinds on account of declining exports to Nigeria and Egypt. Its Netherlands subsidiary received Rs. 78 crore in terms of dividend from its KTM partner.
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